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Winthrop News - A.F. Evans Selling
A.F. Evans has flipped the Winthrop. The Quigg/Trabucco group received a call late Friday from A.F. Evans telling them that they’ve entered into a contractual agreement with somebody other than the Citizens Hotel group – aka Quigg and Co. This was a risk we acknowledged last week. It is apparently a fast moving contract and we should know whether this new player in the game is a go or not by Thursday. So far we know nothing about the buyer.
As always, if you know any details, send them my way. This has been a long journey for everybody involved. We hope to continue the ride.
Update: A bit more info at the Tacoma Daily Index
Previously on Exit133
Link | Posted on 29. October 2006, 21:23
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Tough news.
The “options” on the Winthrop Hotel seem to be given out very cheaply lately and have apparently been refundable.
The good news about the Winthrop Hotel is
(I am trying to be positive here)
1) The property is highly sought after by many different entities each jostling for position.
The Quigg group, TNT editorial board and many others were correct that the property had a higher use than its current status and was desirable and commercially viable.
The people who told us that the Winthrop Hotel “just didn’t pencil out” and could not be restored again and that we should all just settle were mistaken.
2) We will learn more tomorrow. However, it is likely that the property will come back on the market again and we should know this later in the week.
For all we know, the new potential buyers may just want to sell to the Quigg group for a premium. There is also the chance that the new group has a hotel in mind as well.
As much as I support the Quigg effort and done all I can to help, the real community interest is to have the Winthrop Hotel restored again one way or another.
With that said, the Quigg group indicated tonight that they intend to “stick with the mission” until they are “convinced the situation is dead.”
Godspeed.
1 | Posted by Erik | Oct 29, 09:48 PM
The situation heretofore was putup or shut up. We still lack the put up part.
2 | Posted by grumpy smurf | Oct 30, 08:59 PM
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